South Korea can soon follow Hong Kong to legalize the boxes circulating in Bitcoin exchange (ETFS), where senior presidential candidates in the country expressed pro -profit positions.
However, some industrial monitors remain cautious about the possibility of organizational change in the short term.
“All the three main candidates in the three South Korea support #Bitcoin etfs and institutional investment”, Ki Young Ju, founder and CEO of the Onchain Cryptoquant data platform, books On May 14.
Currently, investment funds are banned in bitcoin and corporate encrypted investments in South Korea, which means that “100 % [of the] Joe adds.
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On May 6, South Korea Democratic Party leader Lee Jay Meong promised to legitimize the investment funds circulating in space, low transaction fees and “create a safe investment environment so that young people can [build] Assets and future plan, According to To a report from the Korean Economic Day (KED).
The Democratic Party presented similar promises in its 2024 election campaign, including legalization ETFS encryption spotBut progress was delayed, KED said.
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Candidates return the circulating investment funds, but history makes doubts
While the viewership of prominent candidates indicate a promising future for the legislation of digital assets in South Korea, the organization experts are still skeptical.
“The candidates who suffer from pro -encouraged candidates to pressure the codification of investment funds circulated in the instant bitcoin and reduce fees,” said Andy Lyan, the author and advisor of the international government, said.
“They will take similar situations like Hong Kong. If the circulating investment boxes can lead or not depend on various other factors.”
Lyan said: “A supportive president can lead the reform and the alignment of South Korea with global trends such as the United States, as the investment funds circulated in Bitcoin attracted more than billions of dollars in net flows,” adding that the tone of the Financial Services Committee also “organizational openness” to cryptocurrencies.
However, the People’s Power Party, which was elected in 2022, also promised to lift the ETF’s encryption and review the individual controversial base, “but he failed to act before President Yun isolate,” Lyan said.
It ended in Hong Kong, the first batch of Bitcoin and Ether Etfs based on ether It was launched for trading on April 30, 2024, but he saw A disappointing commercial activity Compared to their counterparts in the United States, Cointelegraph mentioned.
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